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Michael Kors looks to go public


New York City -- Michael Kors Holdings Ltd. is looking to raise as much as $792.3 million in an initial public offering that could value the company at $3.63 billion.

The luxury brand, which has 169 stores in North America and 34 in Europe and Japan, said in a regulatory filing that it is offering 41.7 million shares on behalf of existing shareholders for $17 to $19 each.

For the six month period ending October 1, the company recorded net sales of $520.2 million and profit of $64.7 million. Profits more than doubled from the year-ago-period.

Morgan Stanley, JPMorgan Chase and Goldman Sachs and the lead underwriters on the offering.

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